Connect with us

Hi, what are you looking for?


Taiwan’s Foxconn, TSMC ink $350 mln COVID-19 vaccine deal 

TAIPEI  Taiwan’s Foxconn and Taiwan Semiconductor Manufacturing Co. (TSMC) said on Monday they had reached deals to buy 10 million doses of Germany’s BioNTech SE’s coronavirus disease 2019 (COVID-19) vaccine, putting the total cost of the highly politicized deal at around $350 million. 

Taiwan’s government has tried for months to buy the vaccine directly from BioNTech and has blamed China, which claims the self-ruled island as its own territory, for nixing an agreement the two sides were due to sign earlier this year. China denies the accusations. 

Last month, facing public pressure about the slow pace of Taiwan’s inoculation program, the government agreed to allow Foxconn’s founder Terry Gou, as well as TSMC, to negotiate on its behalf for the vaccines. 

BioNTech’s Chinese sales agent Shanghai Fosun Pharmaceutical Group Co. Ltd. said on Sunday that an agreement had been signed, but did not give details of a delivery timeframe. 

Mr. Gou wrote on his Facebook page that he was “gratified” the deal had been completed, which will see Foxconn and TSMC each buy 5 million doses, to be donated to the government for distribution. 

“But we can’t relax, because we will continue to work hard to push for the delivery time and quantity,” he said. 

“However, this batch of vaccines delivered directly from the German factory I believe will help Taiwanese society to increase confidence and offer respite in the face of the epidemic.” 

Taiwan’s Cabinet said the vaccines would be donated for free to the government. 

Cabinet spokesman Lo Ping-cheng told reporters the government was also looking to buy 15 million “next generation” Moderna Inc. shots for next year and the year after. 

The BioNTech vaccine drama has transfixed Taiwan and dominated headlines. While a relatively small domestic coronavirus outbreak is largely under control, only about a tenth of its 23.5 million people have received at least one of a two-shot regime. 

TSMC and Foxconn, both major Apple Inc. suppliers, said in a joint statement the first BioNTech vaccines were not expected to arrive until late September at the earliest, shipped directly from Germany, but did not say how many would come at first. 

Mr. Gou said Beijing did not interfere in the talks. 

“During the negotiation period after my donation was proposed, there was no guidance or interference from the Beijing authorities in the mainland on the vaccine procurement process,” he said. 

BioNTech also confirmed the deal but referred to Taiwan as the “Taiwan region,” using the wording preferred by China’s government so as not to imply the island is a separate country. 

Fosun deleted an earlier statement from its WeChat account citing BioNTech Chief Executive Ugur Sahin as saying the company was glad to be able to supply the vaccine to Taiwan, though BioNTech did include that quote in its statement. 

Fosun did not immediately respond to a request for comment on why those comments were removed. 

Taiwan has millions of vaccines on order, mainly from AstraZeneca Plc and Moderna, while the United States and Japan have together donated almost five million doses to the island to help speed up vaccinations. 

A person familiar with the talks told Reuters the involvement of TSMC and the unconditional US and Japanese vaccine donations had created a global environment that was favorable to Taiwan and made it hard for China to obstruct the deal.  Ben Blanchard and Yimou Lee/Reuters 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Headline inflation stood at 4% in July, the government reported on Thursday. — PHILIPPINE STAR/ MICHAEL VARCAS PHILIPPINE INFLATION eased to a seven-month low...


ALL COMPANIES included in the Philippine Stock Exchange (PSE) indices will be required to raise their public float level to 20% by December 2022,...


THE PHILIPPINES should focus on diversifying its economy to produce high-quality jobs and more competitive products, according to the United Nations in the Philippines....


SAN Miguel Corp. (SMC) returned to profitability to finish the first half with a net income of P29.57 billion, reversing last year’s P3.99-billion loss,...


AYALA-LED AC Energy Corp. reported an attributable net income of P1.42 billion in the second quarter, down by 28% from P1.97 billion year on...


PLDT, Inc. saw its attributable net income for the second quarter grow 10.9% to P7.1 billion, as high demand for data and broadband continued....

You May Also Like


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...


US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...


THE Securities and Exchange Commission (SEC) has warned the public from investing or to stop any investment in a group named Maxxprofit Computer Trading...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!